Life Insurance: a Secured Ground for You and Your Family
Why Life Insurance?
Though modern world has immense blessings, it is not risk free. Everybody is under risks. An unexpected incident might change your happy family life. Suppose, suddenly you die in a road accident. Did you think what would happen to your wife and children? The thing that will give protection and security is the life insurance. Moreover, it facilitates an income to let your family maintain its standard of living and cover everyday expenses. Furthermore, it is life insurance that will protect your home mortgage. After your death your family might not leave the house if your life insurance might pay off the mortgage.
What is Life Insurance?
Life Insurance is a contract between the policy owner and the insurer, by which the insurer agrees to pay a sum of money upon the occurrence covered by the policy and the policy owner agrees to pay a stipulated amount called a premium at regular intervals or in lump sums. The insurer also agrees to pay you on the basis of death or other event, such as terminal illness or critical illnesses.
Two basic categories of life insurance
There are two basic categories of life insurance : temporary and permanent.
Temporary life insurance, which is also known as pure assurance, provides for a specified term of years for a specified premium. The insurer is bound to pay cash benefits to the beneficiary if the policy owner dies .In addition; it only gives assurance in the event of death and nothing else. Here premium can be for one or more years. For example, annual renewable term is one type of policy where your policy is automatically renewable each year up to a specific age limit.
Another type of temporary life insurance is Mortgage insurance, which gives protection for the policy holder’s family, where mortgage will be paid if the insured dies.
Permanent life insurance is the life insurance under which the policy owner has to pay until the policy matures .It also cannot be canceled by the insurer for any reason except fraud in the application, and the cancellation must occur within a period of time defined by law.
Permanent life insurance includes whole life insurance,universal life insurance and Limited-pay insurance.
Whole Life Insurance:This policy has several advantages. The common benefits of the policy include guaranteed death benefits, guaranteed cash values, fixed and known annual premium inflexibile.Under this policy mortality and expense charges also don’t reduce the cash value shown in the policy.It covers the policyholder for his or her whole life. There is no fixed end date for the policy. When the policy holder dies, the face value of the policy, known as a death benefit, is paid to the person or persons named in the life insurance policy.
Universal life insurance: It offers many features of whole life insurance, but allows greater flexibility once the policy is in force. Like whole life insurance, universal life insurance is a permanent policy. It protects the policyholder until death—however long that may be. Also like whole life insurance, universal life insurance accrues cash value over time.
Limited-pay insurance:It is a policy, in which all the premiums are paid over a specified period after which lyhe policy owner has to pay no additional premiums to keep the policy in force. The Common limited pay periods are 10-year, 20-year, and paid-up at age 65.
So ,be wise and purchase a life insurance policy suitable to your means.
Greath Owen
Can anyone understand this document? I'm having difficulty understanding it, and I may have a quiz on it.?
I have always had to work, whether any one hired me or not. For the first forty years of my life, I was an employe. �When not employed by others, I employed myself.� I found very early that being out of hire was not necessarily being out of work. �The first means that your employer has not found something for you to do; the second means that you are waiting until he does.
We nowadays think of work as something that others find for us to do, call us to do, and pay us to do.� No doubt our industrial growth is largely responsible for that.� We have accustomed men to think of work that way . . .
But something entirely outside the workshops of the nation has affected this hired employment very seriously. �The word �unemployment� has become one of the most dreadful words in the language. �The condition itself has become the concern of every person in the country . . . .
I do not believe in routine charity.� I think it a shameful thing that any man should have to stoop to take it, or give it. �I do not include human helpfulness under the name of charity. �My quarrel with charity is that it is neither helpful nor human. �The charity of our cities is the most barbarous thing in our system, with the possible exception of our prisons. �What we call charity is a modern substitute for being personally kind, personally concerned and personally involved in the work of helping others in difficulty. �True charity is a much more costly effort than money-giving . . . .
Methods of self-help are numerous and great numbers of people have made the stimulating discovery that they need not depend on employers to find work for them � they can find work for themselves. �I have more definitely in mind those who have not yet made that discovery, and I should like to express certain convictions I have tested. �
The land! That is where our roots are.� There is the basis of our physical life. �The farther we get away from the land, the greater our insecurity. �From the land comes everything that supports life, everything we use for the service of physical life. �The land has not collapsed or shrunk in either extent or productivity. �It is there waiting to honor all the labor we are willing to invest in it, and able to tide us across any dislocation of economic conditions.
No unemployment insurance can be compared to an alliance between a man and a plot of land. �With one foot in industry and another foot in the land, human society is firmly balanced against most economic uncertainties. �With a job to supply him with cash, and a plot of land to guarantee him support, the individual is doubly secure. �Stocks may fall, but seedtime and harvest do not fail.
I am not speaking of stop-gaps or temporary expedients.� Let every man and every family at this season of the year cultivate a plot of land and raise a sufficient supply for themselves or others. �Every city and village has vacant space whose use would be permitted. �Groups of men could rent farms for small sums and operate them on the co-operative plan. �Employed men, in groups of ten, twenty, or fifty, could rent farms and operate them with several unemployed families. �Or, they could engage a farmer with his farm to be their farmer this year, either as employe or on shares. �There are farmers who would be glad to give a decent indigent family a corner of a field on which to live and provide against next winter. �Industrial concerns everywhere would gladly make it possible for their men, employed and unemployed, to find and work the land. �Public-spirited citizens and institutions would most willingly assist in these efforts at self-help.
I do not urge this solely or primarily on the ground of need.� It is a definite step to the restoration of normal business activity. �Families who adopt self-help have that amount of free money to use in the channels of trade. �That in turn means a flow of goods, an increase in employment, a general benefit.
It is far out. You better read other more relevant articles and formal document instead of these ambiguous statements. It will pervert you become a nut without understanding English and possibly become illiterate someday.
You shall read articles with the good and understandable expressiveness of Englishness.
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the document is 50 years old, and its arguments are mostly outdated, as both economic institutions and science have advanced a lot since then
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